Stonnington Group LLC Has $3.02 Million Stock Position in Fiserv, Inc. (NASDAQ:FISV)

Stonnington Group LLC cut its stake in shares of Fiserv, Inc. (NASDAQ:FISV – Get Rating) by 6.3% in the fourth quarter, Holdings Channel reports. The firm owned 29,862 shares of the business services provider’s stock after selling 2,000 shares during the quarter. Stonnington Group LLC’s holdings in Fiserv were worth $3,017,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Secure Asset Management LLC acquired a new stake in shares of Fiserv during the third quarter worth $202,000. Hartford Investment Management Co. lifted its holdings in Fiserv by 10.0% during the third quarter. Hartford Investment Management Co. now owns 64,479 shares of the business services provider’s stock worth $6,033,000 after acquiring an additional 5,847 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Fiserv by 12.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 101,126 shares of the business services provider’s stock worth $9,462,000 after acquiring an additional 11,385 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Fiserv by 43.3% during the third quarter. Fifth Third Bancorp now owns 156,728 shares of the business services provider’s stock worth $14,665,000 after acquiring an additional 47,365 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Fiserv by 10.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,839 shares of the business services provider’s stock worth $173,000 after acquiring an additional 170 shares in the last quarter. 88.79% of the stock is owned by institutional investors and hedge funds.

Fiserv Price Performance

Shares of NASDAQ FISV opened at $108.17 on Friday. The business’s 50 day moving average price is $110.27 and its two-hundred day moving average price is $103.73. The company has a market cap of $67.94 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.23 and a beta of 0.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.66. Fiserv, Inc. has a twelve month low of $87.03 and a twelve month high of $119.48.

Fiserv (NASDAQ:FISV – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The business services provider reported $1.91 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.91. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.35 billion. Fiserv had a return on equity of 13.32% and a net margin of 14.26%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 earnings per share. On average, analysts predict that Fiserv, Inc. will post 7.32 EPS for the current year.

Fiserv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 23rd that authorizes the company to repurchase 75,000,000 shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on FISV. Tigress Financial reiterated a “buy” rating and set a $154.00 target price (up from $152.00) on shares of Fiserv in a report on Friday, February 24th. Morgan Stanley lifted their target price on Fiserv from $107.00 to $117.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Robert W. Baird boosted their price target on Fiserv from $132.00 to $138.00 in a report on Wednesday, February 15th. JPMorgan Chase & Co. boosted their price target on Fiserv from $121.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, February 8th. Finally, Credit Suisse Group boosted their price target on Fiserv from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $127.14.

Insider Activity

In other news, COO Guy Chiarello sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $114.74, for a total value of $917,920.00. Following the transaction, the chief operating officer now owns 211,356 shares of the company’s stock, valued at $24,250,987.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Holdings L.P. Valueact sold 1,060,030 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $102.23, for a total value of $108,366,866.90. Following the transaction, the director now owns 13,587,746 shares of the company’s stock, valued at $1,389,075,273.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Guy Chiarello sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $114.74, for a total value of $917,920.00. Following the completion of the transaction, the chief operating officer now directly owns 211,356 shares in the company, valued at approximately $24,250,987.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,755,044 shares of company stock valued at $179,073,098. 1.00% of the stock is owned by insiders.

Fiserv Profile

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Fiserv, Inc engages in the provision of financial services technology. It operates through the following segments: Merchant Acceptance, Financial Technology, and Payments and Network. The Merchant Acceptance segment provides commerce enabling solutions and serves merchants of all sizes around the world.